California Foreclosure Statistics: The Crisis is Not Over

California foreclosure statistics show record losses in recent years are likely to continue into the future

On average, more than 500 California families have lost their homes every day since 4Q 2007, and the data show few signs of a return to the pre-crisis housing market. California foreclosure activity remains elevated, with more than 30,000 completed foreclosures each quarter, compared to less than 3,500 foreclosures in 3Q 2006. In addition, large numbers of California homeowners continue to fall behind in their payments, and would benefit from more effective policies to prevent avoidable foreclosures.

California is one of the nation's largest and most expensive markets, and is the epicenter for the foreclosure crisis that brought our economy to the brink. California and the nation deserve a fair, responsible and transparent market for sustainable home loans.

The Center for Responsible Lending (CRL) a nonprofit, nonpartisan research and policy organization dedicated to protecting homeownership and family wealth by working to eliminate abusive financial practices. Visit the CRL website